Every investment decision must be based on an examination of an exhaustive set of information provided by the entrepreneur on his online profile. Spreds only proceeds to a limited verification of this information and does not control the investment opportunity within this company. Spreds did not verify the extent to which the business plan is deemed realistic and does not intervene with the final Information Note, including the retained maximum valuation. Spreds will align itself with the financial terms negotiated with the co-investor(s).
The way consumers search, buy and sell real estate has changed
- 52% of sellers and 60% of millennials no longer use a real estate broker
- Millennials accounted for 25% - 35% of home transactions in 2017 and are the strongest growing segment
- Buyers and sellers are more tech savvy and notorious for their online research
- People don't have time to manage their real estate process because employees are available 24/7 or prefer to spend time with their family
- Buyers don't have more money to spare
- Everyone still expects the best customer experience. Nothing less than absolute quality.
But the current real estate brokers' model is not adapted to this new reality
- High cost: Average commission of 3% - 5% excluding VAT on total sale price. This easily amounts up to €10,000 - €20,000.
- Conflicts of interest: real estate brokers are incentivised to prefer a quick sale over a high selling price. Obtaining a higher selling price (e.g. €10,000 extra) takes a lot of effort and time but results in only a little extra commission for the broker (e.g. €300 extra). "This is the asking price but the owners would take less" type of conversations happen too often. Brokers also propose other competing properties in their portfolio to interested buyers.
- Little service: Brokers are seldom experts in and photography and valuation and marketing and inspections and legal aspects. Valuation often happens without an objective valuation report, but is used as an argument to convince owners to contract with a broker. Seller still incur extra costs, including for mandatory inspections and certificates. Broker's commission is often already legally due after a sale-purchase promise has been signed even though the sale might still fall through.
Selling your home should be easy and affordable
The solution: IMMO IQ, a digital adviser that provides all the necessary expertise and documents from a distance while the owner takes care of the house visits.
- EPC certificate
- Electrical inspection
- Soil certificate
- Urban planning information
- Flooding risk and heritage
- Protection checks
- Analytical valuation
- Statistical valuation
- Real estate photography
- Retouching photos
- Copywriting ads
- Digital marketing on Immoweb, Zimmo, Immovlan and Facebook
- Real estate sign
Full package for fixed price of €2,499 (VAT included)
- 90% of private individual clients received the final offer within 3 weeks
- +90% would refer friends and family to IMMO IQ or work with IMMO IQ again in the future
- All types of property: IMMO IQ helped owners sell houses, apartments, renovation, projects or buidling shells across every province in Flanders
IMMO IQ is now focusing on scaling its current offering
- A mortgage for their new home
- Fire insurance
- Household insurance
- A new energy supplier
- Internet and TV
IMMO IQ is initiating a commercial partnership with Belfius
- Local agencies will be asked by Belfius HQ to send a template email introducing IMMO IQ to their homeowner clients
- Decision to contact clients and via which way (email, orally, business cards,…) is 100% at the discretion of local agencies
- IMMO IQ gives a €100 discount or free valuation for Belfius clients as an incentive
- Timing: as of September onwards
- A few selected local agencies are now being contacted by Belfius HQ to discuss whether IMMO IQ can set up local multichannel marketing campaigns and info sessions together with the local agency
- IMMO IQ will get a page on the Belfius website
- Timing: depending on the discussions with the local agencies. September at the earliest.
- Belfius wants to grow into energy renovation financing and capture clients earlier in the sale/purchase process
- IMMO IQ has therefore developed a new product to make this possible:
- Valuation of property in current condition
- Estimation of renovation costs to upgrade
- Energy Performance Score Hypothetical valuation of property if energy renovation would be carried out
- Package price of €399 (VAT included) (€299 for Belfius clients)
- Timing: new product to be tested via local omnichannel marketing campaigns with local agencies
Base Camp BVBA was incorporated in 2016.
All IP, brand rights, and so on are currently owned by Base Camp BVBA and will be transferred to IMMO IQ at the time of incorporation of the latter.